Another news release
Biometric to integrate FingerLoc into Veriprint
Biometric Security Corp BMS
Shares issued 20,834,412 Feb 1 close $0.20
Mon 1 Feb 99 News Release
Mr. Patrick McCleery reports
Biometric Security has an agreement to acquire 45 per cent of Biometric
Identification, Inc. (BII). BII and AuthenTec, Inc., a leading supplier of
security and personal identification silicon-based solutions, will
integrate the AuthenTec Fingerloc sensor into BII's Veriprint 1100 Embedded
Fingerprint System (V1100).
The partnership allows both companies to share technology, testing and
reliability data, in order to deliver integrated fingerprint identification
solutions. The initial products will be based on BII's Veriprint V1100
system, which offers fingerprint template storage, on board verification,
power and communication management in one integrated package.
AuthenTec, Inc. is a privately held security and personal identification
solutions company located in Melbourne, Fla.
BII has also added two new time and attendance distributors to the list of
international companies focused on providing biometric fingerprint
verification for the electronic data capture industry: Intermex Automatic
Identification (Mexico), and Goldenvest (Taiwan).
Goldenvest will use BII's V2100 for assembly and resale in the Asian
region. Goldenvest will repackage the V2100 and market it with its time and
attendance software package for biometric data capture.
IMEX, the number one ranked time and attendance company in Mexico, will
private label the V2100 and distribute it to 55 dealers throughout the
Republic of Mexico.
BII has completed the delivery and installation of a previously announced
contract involving Mexico's federal Camara de Dipulados (chamber of
deputies) which is now one of the world's largest networked biometric
fingerprint verification systems in the world.
Biometric has completed two private placements totalling 11,666,666 units
at 15 cents for gross proceeds of $1,750,000. Each unit consisted of one
share and one warrant exercisable for two years at 15 cents in the first
year and 17 cents in the second. The proceeds will be used for working
capital and to increase the company's investment in BII. |
